Alabama § 23-7-3 Creation; Purpose; Accounts

Alabama Statutes

§ 23-7-3 — Creation; Purpose; Accounts

Alabama § 23-7-3

Title 23Highways, Roads, Bridges and Ferries

Ch. 7Alabama Transportation Infrastructure Bank Act

This text of Alabama § 23-7-3 (Creation; Purpose; Accounts) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 23-7-3 (2026).

Text

(a)There is created a public corporation to be known as the Alabama Transportation Infrastructure Bank.

(b)The bank is governed by a board of directors as provided in this chapter.

(c)The corporate purpose of the bank is to select and assist in financing major qualified projects by providing loans and other financial assistance to government units for constructing and improving highway and transportation facilities necessary for public purposes including economic development.

(d)The bank shall establish and maintain at least the following accounts:

(1)State highway account.

(2)Federal highway account.

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(a) There is created a public corporation to be known as the Alabama Transportation Infrastructure Bank.
(b) The bank is governed by a board of directors as provided in this chapter.
(c) The corporate purpose of the bank is to select and assist in financing major qualified projects by providing loans and other financial assistance to government units for constructing and improving highway and transportation facilities necessary for public purposes including economic development.
(d) The bank shall establish and maintain at least the following accounts:
(1) State highway account.
(2) Federal highway account.